Cloud AI Market Size, Top Trends, Share Analysis, Key Drivers, Insights And Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Cloud AI Global Market Report 2023 identifies increasing demand for virtual assistants as the major driver for the cloud AI market's growth in the forecast period. Virtual assistants, also known as voice assistants or digital assistants, use artificial intelligence (AI) technologies to provide users with interactive and personalized assistance. They are designed to understand and respond to user queries, perform tasks, and provide relevant information or services. Cloud AI is commonly used to power virtual assistants and enhance their capabilities, allowing businesses to build, train, deploy, and manage AI models at scale. Its benefits include scalability, reliability, security, and cost-effectiveness.

The global cloud AI market is expected to grow from $43.04 billion in 2022 to $59.49 billion in 2023 at a compound annual growth rate (CAGR) of 38.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The cloud AI market is expected to reach $215.39 billion in 2027 at a CAGR of 37.9%.

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Major competitors in the cloud AI market are Amazon Web Services Inc., MicroStrategy Incorporated, Apple Inc., Microsoft Corporation, Google LLC, Huawei Cloud, Intel Corporation.

A key trend in the cloud AI market includes innovative AI cloud services. Major companies operating in the cloud AI market are focused on developing innovative AI cloud services to sustain their position in the market. For instance, in March 2023, NVIDIA Corporation, a US-based software company, launched DGX Cloud, a new AI supercomputing cloud service. This innovative technology solution allows businesses to run AI workloads at scale and speed and to access the latest AI technologies. It is equipped with the company's most powerful GPUs. The service allows every company to access its own AI supercomputer using a simple online browser, which removes the hassle of buying, deploying, and operating on-premises hardware. Additionally, this cloud service includes scalability, reliability, security, and cost-effectiveness. Overall, DGX Cloud is a powerful and versatile cloud AI supercomputer service that offers several features that make it a good choice for businesses of all sizes.

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The cloud AI market is segmented -
1) By Type: Solution, Service

2) By Technology: Deep Learning, Machine Learning, Natural Language Processing, Other Technologies

3) By End-User Vertical: Banking Financial Services And Insurance (BFSI), Healthcare, Automotive, Retail, Government, Education, Other End-User Verticals

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the cloud AI market.

The Business Research Company's "Global Cloud AI Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Cloud AI Market Include:
1. Executive Summary
2. Cloud AI Market Characteristics
3. Cloud AI Market Trends And Strategies
4. Cloud AI Market - Macro Economic Scenario
…….
32. Global Cloud AI Market Competitive Benchmarking
33. Global Cloud AI Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cloud AI Market
35. Cloud AI Market Future Outlook and Potential Analysis
36. Appendix

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